The Head Of Harvard's $30 Billion Endowment Is Resigning

Jane Mendillo, president and CEO of Harvard Management Company,
which manages the company's more than $30 billion endowment,
is
stepping down at the end of the year, according to an
announcement from the university.

Harvard said that during the five years ended June 30, HMC
delivered an estimated annual return of 11-12%. During that
period, payment from the endowment to the university totaled $11
billion.

Last year,
an analysis showedthat
from fiscal year 2009 through June 30, 2013, Harvard
underperformed a portfolio weighted to 60% stocks and 40% bonds
by 4.5%.

The analysis, performed by
recruitment firm Charles A. Skorina & Co., showed that
Harvard also underperformed Ivy League peers including Yale,
Cornell, and Brown.

Harvard said it has commenced a search for a successor.

These charts show the endowment's performance and growth over the
last two decades.